Despite its strong banking history, Chennai has lagged behind tech-savvy cities like Mumbai and Gujarat in fintech innovation. To address this, the state government recently launched a program to develop the necessary infrastructure for attracting next-generation fintech companies, leading to rapid growth across the industry.
These are companies contributing to the turnaround.
Fintech Companies in Chennai
- Toast
- CSC
- TransUnion
- Opendoor
- Citi
Top Fintech Companies in Chennai
TransUnion is a global information and insights company that fosters trust in international commerce by offering a detailed view of each consumer through a combination of online, offline, public and proprietary data. Based in Chicago, TransUnion has a significant footprint in India, with offices in Chennai, Bangalore, Gurgaon and Mumbai, to name a few.
CSC offers business, legal, tax and digital brand services to companies globally, employing 8,000 people across 140 jurisdictions. With 34 office locations around the world, including Chennai, CSC employees work engage in a combination of remote and on-site work.
Northern Arc says its fintech products help businesses and individuals gain access to credit. The products enable all sorts of lending, including partnership-based lending and direct-to-consumer lending. The company focuses lending on six areas: consumer, vehicle, affordable housing, agriculture, microfinance and MSME (micro, small and medium-size enterprise). It is based in Chennai.
Opendoor’s goal is to simplify the traditional home-buying process. Done entirely digitally, Opendoor offers sellers cash for their homes, makes repairs on the properties it purchases and re-lists them for sale. The company is headquartered in the United States, with several additional offices scattered throughout India.
Zuora makes cloud-based tools that help companies automate processes such as subscription billing and recurring revenue. The company says it can help clients build paywalls, find and retain subscribers and boost growth. Zuora is based in Redwood City, California, and has an office in Chennai.
Shriram Insight Share Brokers, a retail brokerage, offers online trading of equities, bonds, commodities, currencies and other asset classes; users can trade on their desktops or mobile devices. Shriram says it is one of the leading brokerages in Eastern India.
Citi has a global network of financial services that stretches across nearly 180 countries. The company says its core activities are safeguarding assets, lending money, making payments and accessing capital markets on behalf of its clients.
CashLink Global Systems says its fintech products help retail banking institutions become more automated. Its products help with EFT switching, which lets banks route and process ETF (electronic funds transfers); mobile banking; and credit-card issuing. CashLink, based in Chennai, says it helped make ATMs popular in India.
Toast is a cloud-based software company that offers restaurants a comprehensive platform of fintech solutions, including payments, supplier management, digital ordering, delivery, marketing, point-of-sale hardware and more. The company has offices across North America, Europe and Asia.
AssetPlus, a wealth management fintech company, enables app-based (Android or iOS) trading of a variety of mutual fund portfolios, from commodities and corporate bonds to all sizes of capitalization (small, mid and large). The company is based in Chennai.
